Message from the Chairman

It is time to welcome the Year 2018 with a good start. A time to “Be More @ 2018”. A time to strive harder for better results. The past year like all the other years was very challenging, not just for Rural Bank of Bayombong, Inc., but for the whole banking industry. With the so many Circulars, Memoranda, Policies and laws that were passed by regulatory agencies, the Bangko Sentral ng Pilipinas, Philippione Deposit Insurance Corporation, Anti-Money Laundering Council, Securities and Exchange Commission, Bureau of Internal Revenue and Credit Information Corporation to name few, to ensure the stability and effectiveness of the RBBI as an organization delivering financial services, one can just wonder and ask the question, “How do we survive?”. Well for some, it was easy to say, “Because we are liquid.”, but that is not all. The real secret is hard work, cooperation, perseverance, dedication and most importantly, trust. Thus, I would like to personally thank our Clients, Stakeholders, Employees, Stockholders and Partners for continuously trusting us, their RBBI Family, through the years. Having been in this business for 56 years is really the fruit of hard work, commitment, and trust. RBBI will not be standing firmly with its pillars firmly rooted on the ground without the trust from the public that make it stand strong. As the tag line goes, “The First Bank in Nueva Vizcaya and the Oldest Rural Bank in Cagayan Valley”.

Having been recognized by the Confederation of Cagayan Valley Rural Bankers last year during its General Assembly held at Mango Suites, Santiago City, Isabela last 13 December 2017 with the Certificate of Excellence for Outstanding Performance in Banking as per Bangko Sentral ng pilipinas List of Top Ranking Rural Banks: Top 76 in Total Assets, Top 47 in Total Stockholder’s Equity, and Top 88 in Total Deposit Liabilities is more than enough to keep us working for more, “Being More @ 2018”.

The year 2017 was greeted with the Regular Annual Examination of RBBI by the Bangko Sentral ng Pilipinas which we passed with no major exceptions noted after timely supplying the examiners with the Requirements of the Audit and after the Exit Conference of the BSP with the Members of the Board to which we humbly accepted and complied with the Recommendations cited.

Rural Bank of Bayombong, Inc., being one of those who were the first to comply with the Requirements of the Credit Information Corporation was invited to attend the launching of its Data Access sometime in April 2017.

Before classes start, it was time for Brigada Eskwela by the Department of Education in our province which we support yearly. We were able to share basic school supplies to the poor but deserving students of Nueva Vizcaya.

Then it was time for our yearly Team Building Activity with RBBI Family. All employees were able to find a break from their usual office work. The values of camaraderie, commitment, communication, performance and again, trust, were strengthened with the activity.

A Review of RBBI Policies and Procedures followed thee Team Building Activity conducted by the Corporate Office. Employees were refreshed of the company policies and procedures that are important in their daily functions to work effectively.Due to the flooding of so many Circulars, Policies, Laws and new Regulations, not to mention the fast turn over of the employees because of the high offer in government offices which is very difficult to match, Training Seminars were held at the Corporate Office during the later part of the third quarter and early part of the fourth quarter for the Loan Department, Savings Department, Accounting Department, Cash Department, Managers and Department Heads. Credit is given to the Compliance Office and Internal Audit Department who worked untiringly with Top Management to realize the objective of refreshing the employees with their function, duties, and responsibilities to work more efficiently on their assigned work.

Being a partner in the Banking Industry for several years now, Land Bank of the Philippines invited Rural Bank of Bayombong, Inc. to its Appreciation Night for Clients and Partners. This was held at Hotel Elizabeth in Baguio City. LBP is the partner of Rural Bank of Bayombong, Inc in extending loan for countryside development.

Rural Bank of Bayombong, Inc. in its share of Corporate Responsibility reached out to the following Barangays: Labbu, Lingay, Hukhukyung, Don Domingo Maddela, Vista Alegre, and Don Mariano Marcos. These were made possible by partnering with different individuals and organizations with the same cause we believe in. Simple salo-salo, games, programs were held and Christmas goodies were given to the beneficiaries.

RBBI Policies and Procedures were also reviewed and enhanced by the different departments such as the Compliance Office, Internal Audit Department, and EDP together with the Board and Top Management.

Before the year ended, A Strategic Planning and Goal Setting Seminar for the Managers and Department Heads was held at the Corporate Office to be ready for the challenges for the year ahead.

Not all is green, we had to overcome several obstacles. Because of the growing number of microfinance units and lending offices everywhere, we had innovate ways to catch the lending public. We also had to find ways to make the most of what we already have to sustain our operational expenses and b able to return what is due to our Stockholders. Rural Bank of Bayombong, Inc. also had to make adjustments in order to comply with the latest Wage Order by the Department of Labor and Employment. The Bureau of Internal Revenue also came into picture which was an additional burden to the Bank. Also, just like last year and same with our peers, the fast turn-over of our employees because of the so many positions opened in government offices. Not to mention the legal issues that we had to answer as part of our business. Last but not the least, the numerous requirements by the Bangko Sentral ng Pilipinas which is putting so mucg weight on our shoulder even if those were done with good intentions on the side of the regulators.

With so much things that were done and still needs to be done to “Be More @ 2018”, we, on our end, have nothing but the best intention and promise that is to deliver fast, efficient and transparent service to our Clients and Stakeholders taking into consideration the Truth in Lending Act and through the best of our ability to continuously safeguard the money that were entrusted to us by the depositing public. With service to countryside and profitability as our goal, we commit to serve the People of Cagayan Valley only through safe and sound banking practices, because only through these, we can truly say that we can “Be More @ 2018”.

Maraming Salamat po at Maligayang Bagong Taon sa Inyong Lahat!

Rachelle R. Foronda
Chairman of the Board